Overview of the Market, Major Drivers, Performance Benchmarks
The last close saw the Nifty 50 close at 24,876.95, up 246 points or 1%.
The BSE Sensex closed at around 81,273.75, up 676 points and 0.84 percent.
Highlights of the Intraday
The Sensex rose more than 1,100 points to its peak before reversing gains as the day came to an end, and the Nifty briefly reached 25,000 during intraday trading.
Why Did the Rally Start?
Today’s bullish momentum was driven by a number of convergent forces:
Buzz about GST Reform
Expectations of broad Goods and Services Tax reforms, such as a proposed drop in small vehicle taxes from 28% to 18% and a streamlined rate structure (5% and 18%), greatly improved sentiment.
Rating Upgrade for S&P
S&P’s downgraded rating further bolstered optimism regarding India’s macroeconomic prospects.
Relief from Geopolitics
Oil-importing nations like India benefited from a meeting between Russian President Putin and U.S. President Trump that allayed worries about disruptions to oil supplies.
Regional and Technical Assistance
The rise was further bolstered by favorable trends on Asian bourses and bullish technical indications.
Strength by Sector
Auto: Up ~4%, Hero MotoCorp recovered ~6–7%, and Maruti Suzuki (+6–9%).
Consumer Durables: About 3% of registered.
Realty: Up about 2%.
Financials, telecom, metals, and FMCG are all up 1% to 2%.
Consumer Durables:
Improved ~3%. Realty: Up ~2%. FMCG, Metals, Telecom, Financials: All 1–2% higher. Midcap & Smallcap indices: Midcaps increased ~1%, and smallcaps increased ~1.4%. Currency Movement Indian rupee closed higher—at around ₹87.35/USD—due to improved equity market sentiment and upbeat sentiment on trade conditions.
